#MarketTurbulence These are the main reasons and news that triggered the sudden drop today at the following times:

📢 9:30 AM New York time (4:30 PM Jordan time)

A statement from the Chairman of the U.S. Federal Reserve, Jerome Powell, that a rate cut may be delayed due to inflation continuing to be above target, and that the U.S. economy is still strong.

➡ This led investors to expect continued tightening of monetary policy, and thus sell high-risk assets such as cryptocurrencies.

💵 Movement of the U.S. Dollar Index (DXY)

After the Fed's statements, the dollar index rose sharply, which usually puts pressure on the crypto market as it reduces the attractiveness of investing in it.

📊 Negative economic data from China

It was announced that Chinese industrial production growth declined more than expected, causing global concern about demand and emerging markets.

🤖 Automated selling by whales and hedge funds

As the price dropped below important support levels for Bitcoin (such as $58,000), large sell orders were triggered, accelerating the decline and affecting all currencies.